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Shared Equity Housing Opportunity

Victory Housing Trust has been disposing of properties in coastal villages like Cley whenever they become vacant, spending the proceeds of new builds in places like North Walsham. The Parish Council has vehemently opposed this policy and subsequent to a meeting with the Chief Executive of Victory, John Archibald, it was agreed that the next property to become vacant would be offered to local people on a shared equity basis under which the prospective buyer takes a mortgage on the agreed share (minimum 50%, maximum probably 80% though this has not been declared by Victory) and pays rent on the rest of the property. If they subsequently decide to move they sell that  equity stake to the new buyer while Victory retain the rest.

The property in question is in the Glandford Road and will be marketed by Arnold Keys in Holt from about mid-April. At first it will be offered to residents of Cley only – if none come forward the net will be widened to the surrounding parishes and then the whole of North Norfolk – very much like the Local Lettings Policy. At the time of writing we do not know the asking price of the property.

Arnold Keys website is at https://www.arnoldskeys.com/contact-us/our-branches/holt/ and their Holt phone number in 01263 713966

 

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